Swiss KOF Leading Indicator At 11-Month High

A measure of future economic activity in the swiss economy improved more-than-expected in June to reach its highest level in almost one year, survey results from the KOF Swiss Economic Institute showed Thursday.

The KOF Economic Barometer increased by 10 points to 99.8 in July from 89.8 in June, which was revised up from 89.7. Economists had expected the index to rise to 90.4.

The latest reading was the strongest since August 2014, when the reading was 100.1.

“The Barometer thus jumps back to its long-term mean value. While the strong Swiss franc continues to place a burden on the Swiss economy, however, the first shockwave after the abandon of the minimum price is clearly losing its power,” the Z?rich-based think tank said.